Yes..... Even a wire can be recalled!
You will rarely find a set of mortgage docs that do not have language in them that specifically specifies any outstanding prior to funding/wire conditions that must be satisfied prior to recording or has express language disclosing that signing the documents is not a commitment to lend. Lenders will perform Quality Assurance and Quality Control checks prior to funding to make sure that everything in the mortgage file is as it was when it was applied for, right before funding. Typical mistakes made by borrowers is quitting a job, taking out new credit, buying a new car, buying furniture, buying appliances etc the moment they sign, thinking it is a done deal. Just to find out later the lender re ran their credit or made a call and then declined the loan and it never funds.
Yes...if in the final funding review, credit, employment for example if something is found put your loan outside of approval guidelines your loan would be denied. Hopefully your mortgage professional has advised you of the "do's and dont's" during the loan process until you have CLOSED your loan.
Sure, until the ink is dry and funds disbursed it can always be cancelled/denied based on new information. However, it is extremely rare for denial after the loan is fully approved and closing confirmed.
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